Thanks for saying that. And I want to quote you again, " It has no revenue stream for which to value a higher share price." My son is 19 and just beginning to take an interest in stocks. I started by telling him, "there are many reasons why stocks go up or down, but over time, they need to make a profit."
What u left out is without the covid 19 pandemic this drug wouldnt be doing anything nor would this company and the stock. When covid goes away so will everything else. Then it will become clearer to some the goal is to sell stock during the long trial process using the principal of hope and fear The price is now below the 50ma which has become resistance. When this happens stocks tend to seek out new lower support levels. As a general rule it's always better to sell when the stock is above the 50ma heading higher vs below the 50ma heading lower.